A popular crypto trader says he\u2019s long-term bullish on an artificial intelligence (AI)-related altcoin even though its chart is flashing some potential warning signs.<\/p>\n
The pseudonymous crypto analyst known as Altcoin Sherpa tells<\/a> his 215,900 followers on the social media platform X that Render (RNDR<\/a>) is his top AI pick for this market cycle.<\/p>\n \u201cGoing to have this as one of my AI bets for this cycle and throw it into a cold wallet and hold most of it.\u201d<\/em><\/p>\n Render aims to provide close to real-time rendering by leveraging its network of decentralized Graphics Processing Units (GPUs).<\/p>\n Explains<\/a> the project\u2019s website,<\/p>\n \u201cOn top of a decentralized GPU computing network, Render provides a platform for artists and developers to build services and applications for the emerging digital economy, including next-generation digital rights management (DRM), artificial intelligence (AI), and virtual assets [non-fungible tokens].\u201d<\/em><\/p>\n RNDR, the project\u2019s native token, is trading at $10.21 at time of writing.<\/p>\n Altcoin Sherpa is also interested<\/a> in Bittensor (TAO<\/a>), a decentralized blockchain platform that focuses on machine learning and AI. But the trader acknowledges that the asset\u2019s chart looks \u201cscary\u201d right now.<\/p>\n \u201cDo I want to make this one of my high-conviction AI bets for 2024? It\u2019s a decent place to buy with the 200-day exponential moving average (EMA) plus 0.50 Fibonacci. I think I\u2019m going to go half size here and more at the .618 fib at $300ish.\u201d<\/em><\/p>\n TAO is trading at $451.47 at time of writing. The 44th-ranked crypto asset by market cap is down nearly 4% in the past 24 hours.<\/p>\n Altcoin Sherpa says he\u2019s less bullish<\/a> on Wormhole (W<\/a>), a cross-chain messaging protocol. According to the trader, W\u2019s move above its resistance at $0.72 looks like a fakeout rally that could send prices tumbling to $0.587.<\/p>\n \u201cLooks like the recent move was just a deviation, this is going back in the range. I\u2019m going to probably cut this now\/soon and take profit. Happy to buy back higher later though on the true break.\u201d<\/em><\/p>\n At time of writing, W is worth $0.658.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A popular crypto trader says he\u2019s long-term bullish on an artificial intelligence (AI)-related altcoin even though its chart is flashing some potential warning signs. The pseudonymous crypto analyst known as Altcoin Sherpa tells his 215,900 followers on the social media platform X that Render (RNDR) is his top AI pick for this market cycle. \u201cGoing […]<\/p>\n","protected":false},"author":2,"featured_media":297327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-297326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/297326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=297326"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/297326\/revisions"}],"predecessor-version":[{"id":297329,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/297326\/revisions\/297329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/297327"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=297326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=297326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=297326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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